BP's NZ profit climbs 65% to $243M in 2017 as govt scrutinises fuel industry pricing

Thu, 31 May 2018

By Sophie Boot June 1 (BusinessDesk) - The New Zealand division of British Petroleum, one of the world's largest oil and gas companies, which was criticised last month after a leaked email revealed its pricing tactics and prompted government action, lifted annual profit 65 percent to $243 million. BP New Zealand's revenue rose 18 percent in the year ended Dec. 31, 2017 to $3.22 billion, with net profit rising to $242.9 million from $147.5 million in 2016. It paid a $400 million dividend to its UK-based parent company. The fuel industry...

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